Interview in the Financial Industry: 3 X 4 Tips for Applicants

The financial industry has not lost in popularity despite the recent crisis in applicants - in addition to jobs at car manufacturers and management consultancies include jobs in banking and insurance unabated favorites for the Application. But how master the beginners job interview in the financial sector?

Typical questions from personnel in the financial sector

The fact is, getting started in the finance industry is not always easy, financial companies are looking for the best talents and usually have a lot of experience on the subject Recruiting – The questions at the interview can be correspondingly tricky.

We looked at a few questions from real interviews and give tips for good answers. Most application questions can be classified in one of the following three categories:

• General questions / questions about the person
• Specific questions about the job or the company
• “Brain teaser”

1. General questions

General questions mostly serve the purpose that Candidate and their Appear to get to know. Pay attention Recruiter above all on how applicants present themselves and whether they fit into what is intended for them Team can integrate. General questions are for example:

1. "Tell us something about you": A classic in which applicants have the opportunity to speak freely and set accents to their strengths and relevant experiences. Be authentic and humane without being too modest, highlight achievements and qualifications.
2. “Tell us your strengths”: Of course, this is not an invitation for a minute long hymn of praise to your own person. The point is to convince the recruiter that the profile fits the requirements that are required in the position you are applying for. It is important that you do without empty words. The strengths should always be proven with examples.
3. “Where do you see yourself in five years?”: In this question, the recruiter does not expect a detailed answer - he wants to know if the applicant is pursuing a career plan, what his hopes are, or how he imagines his future life, especially with regard to the professional situation. The recruiter is looking for motivated and talented employees who want to retain their long-term loyalty to the company. The answer should therefore be worded as being part of the company and ready to develop and learn.
4. “Why are you the right person for this position?”: It is important that the applicant can not be put under pressure by the questioner. Applicants should refer to their qualifications and confidently argue that they can help the company. In addition, you can also meet the requirements - the recruiter looks for a staff member who can handle numbers well should be referred to a strength in mathematics or statistics, if the services also prove that.

2. Specific questions on the job

The second part of the interview is usually about specific questions about the job Companys and to the desired location. Preparation, especially for the company, the environment and the competition are here mandatory!

1. “Tell me about [company]”: A classic that HR managers want to see whether the candidate is serious about the application. Before the interview, find out about the company, the management, the economic situation and the competitive situation on the Internet.
2. “How would you invest 1 million euros?”: The financial industry is simply about money. With this question, the recruiter tries to find out if you are familiar with the market environment and investment opportunities. As a rule, you can hear this question in the investment business of traditional banks or at investment banks. The best answer here is usually a consultation, because it makes a big difference whether the sum should be invested for an individual, a company or the bank itself - and, of course, what their risk preferences are.
3. "What is the DAX forecast today?": Especially if you want to invest customer or bank funds at short notice, it is important that you have an overview of the markets. The question "What is the DAX forecast today?? ” not only applies to the DAX, but can also apply to international markets, raw materials or other asset classes. It is best to find out about the current market situation on the morning of the interview.
4. “What are the main points in currency trading?”: A very specific question specifically for traders. It is important that you deal here with risk management, technical indicators but also macro indicators such as the political environment and the economic situation of individual countries.
5. "What is the goal behind at MundA?": MundA - “Mergers and Acquisitions” - is when one company buys another or two companies merge. Companies generally do this for one of the following reasons: access to new markets, access to know-how or experienced employees, access to new technologies

It is always important that the purchasing company hopes for synergies - it is therefore assumed that with the purchase and the Combination the two companies can make more profit than the purchase price is paid.

3. Brain Teaser

Brain teasers are a very special category of questions that are usually impossible to answer directly. Recruiters ask these questions to see if the applicant can think analytically and act logically, especially in stressful situations. An example: The interview partner asks the question: “How many flower shops are there in Germany? ”: An answer in the style of “5 million” or “I don't know” would be bad.

It is important to show that you can approach a completely new situation logically. An answer in the following would be better Style:

1. Make assumptions: Approximately 80 millions of people live in Germany, of which about two per household. Every household buys a bouquet of flowers once a week. A florist ties a bouquet in about 10 minutes, works 46 weeks a year, 40 hours a week. On average, three florists work in each flower shop.
2. Set up an invoice: (80.000.000 population / 2 people per household) x 1 bouquet x 52 weeks = need for bouquets per year: 2.080.000.000. 6 bouquets per hour x 40 hours x 46 weeks = 11.040 bouquets per florist per year x 3 florists per store = 33.120 bouquets per flower shop per year.
3. Solution: If supply and demand coincide accordingly, there are in Germany 2.080.000.000 / 33.1200 = approx. 62.801 flower shops.
4. Procedure: Even if the bill is not quite right, it obviously depends on the procedure. Of course, it is also allowed to ask questions if the question is not 100-percent clear. And: Do not be afraid to ask if you can have a calculator for the bill (or even better: use the calculator on your phone - so you show even more independence).

Other popular brain teasers are:

• How many liters of water is drunk every year in Germany
• How many games does a Handball World Cup have?
• How many divorces are there in the US every year?
• They have two hourglasses: one runs seven, the other five minutes. Stop 13 minutes.
• Why are manhole covers round?
• How heavy is Berlin?

Conclusion

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The Job Interview is and will remain a difficult situation - this also applies to the financial sector. But who himself well prepared does not need to be nervous, important is an authentic appearance and expertise for each position.

Viel Success!

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